Torino Holding: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Torino Holding
Largest movements
- Intangible fixed assets -€745,254
down €745,254 (-21.1%), from €3.5m to €2.8m
- Cash -€149,265
down €149,265 (-82.4%), from €181,070 to €31,805
mainly Debts after one year (-€4.1m) and Current portion of long-term debt (-€480,000)
- Debts after one year -€4.1m
no longer reported in 2025 (was €4.1m)
- Other debts +€3.4m
up €3.4m (+188%), from €1.8m to €5.2m
- Current portion of long-term debt -€480,000
no longer reported in 2025 (was €480,000)
- Trade debts +€224,051
up €224,051 (+418%), from €53,604 to €277,654
- Profit (loss) carried forward +€116,944
up €116,944 (+9.2%), from €1.3m to €1.4m
- Depreciation +€558,941
up €558,941 (+300%), from €186,314 to €745,254
- Services and other goods +€508,646
new in 2025: €508,646
- Turnover +€487,603
new in 2025: €487,603
- Other operating income +€250,000
new in 2025: €250,000
- Financial charges +€103,214
up €103,214 (+39.3%), from €262,351 to €365,565
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,325,023 | €10,486,417 | -€838,607 | -7.4% |
| Fixed assets | 21/28 | €10,908,842 | €10,163,588 | -€745,254 | -6.8% |
| Intangible fixed assets | 21 | €3,539,958 | €2,794,703 | -€745,254 | -21.1% |
| Financial fixed assets | 28 | €7,368,884 | €7,368,884 | = | 0.0% |
| Affiliated companies | 280/1 | - | €7,368,884 | +€7.4m | |
| Participating interests | 280 | - | €7,368,884 | +€7.4m | |
| Current assets | 29/58 | €416,181 | €322,829 | -€93,352 | -22.4% |
| Amounts receivable within one year | 40/41 | €235,112 | €291,024 | +€55,912 | +23.8% |
| Trade receivables | 40 | €31,783 | €270,224 | +€238,441 | +750% |
| Other amounts receivable | 41 | €203,329 | €20,800 | -€182,529 | -89.8% |
| Cash at bank and in hand | 54/58 | €181,070 | €31,805 | -€149,265 | -82.4% |
| Total equity and liabilities | 10/49 | €11,325,023 | €10,486,417 | -€838,607 | -7.4% |
| Equity | 10/15 | €4,917,603 | €5,034,547 | +€116,944 | +2.4% |
| Contributions | 10/11 | €3,645,000 | €3,645,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,272,603 | €1,389,547 | +€116,944 | +9.2% |
| Amounts payable | 17/49 | €6,407,420 | €5,451,869 | -€955,551 | -14.9% |
| Amounts payable after more than one year | 17 | €4,060,000 | - | -€4.1m | |
| Financial debts | 170/4 | €4,060,000 | - | -€4.1m | |
| Amounts payable within one year | 42/48 | €2,347,420 | €5,451,831 | +€3.1m | +132% |
| Current portion of amounts payable after more than one year | 42 | €480,000 | - | -€480,000 | |
| Trade debts | 44 | €53,604 | €277,654 | +€224,051 | +418% |
| Suppliers | 440/4 | €53,604 | €277,654 | +€224,051 | +418% |
| Taxes, remuneration and social security | 45 | €15,101 | - | -€15,101 | |
| Taxes | 450/3 | €15,101 | - | -€15,101 | |
| Other amounts payable | 47/48 | €1,798,715 | €5,174,177 | +€3.4m | +188% |
| Accrued charges and deferred income | 492/3 | - | €38 | +€38 | |
| Operating income | 70/76A | - | €737,603 | +€737,603 | |
| Turnover | 70 | - | €487,603 | +€487,603 | |
| Other operating income | 74 | - | €250,000 | +€250,000 | |
| Operating charges | 60/66A | - | €1,255,444 | +€1.3m | |
| Services and other goods | 61 | - | €508,646 | +€508,646 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,314 | €745,254 | +€558,941 | +300% |
| Other operating charges | 640/8 | €449 | €1,544 | +€1,095 | +244% |
| Gross operating margin | 9900 | €28,694 | - | -€28,694 | |
| Operating profit (loss) | 9901 | -€158,069 | -€517,841 | -€359,772 | -228% |
| Financial income | 75/76B | €1,000,000 | €1,000,350 | +€350 | 0.0% |
| Recurring financial income | 75 | €1,000,000 | €1,000,350 | +€350 | 0.0% |
| Income from financial fixed assets | 750 | - | €1,000,000 | +€1.0m | |
| Other financial income | 752/9 | - | €350 | +€350 | |
| Financial charges | 65/66B | €262,351 | €365,565 | +€103,214 | +39.3% |
| Recurring financial charges | 65 | €262,351 | €365,565 | +€103,214 | +39.3% |
| Debt charges | 650 | - | €364,427 | +€364,427 | |
| Other financial charges | 652/9 | - | €1,138 | +€1,138 | |
| Profit (loss) for the period before taxes | 9903 | €579,580 | €116,944 | -€462,635 | -79.8% |
| Profit (loss) for the period | 9904 | €579,580 | €116,944 | -€462,635 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €579,580 | €116,944 | -€462,635 | -79.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.